Canada's Atlantic LNG Project Faces Increased Costs

Canada is looking for new places to sell its oil and gas because the U.S. might add extra taxes on Canadian energy. This has made Canada think about building a big gas export project on its east coast in Quebec.

A few years ago, Canada had plans to build pipelines and gas plants to sell energy to other countries. But the government stopped these projects because of environmental concerns. Now, with possible U.S. taxes, Canada wants to try again.

However, a group that studies investments says the Quebec gas project wouldn't make money. The project would cost about $24 billion, which is twice what they first thought. Also, Europe doesn't need as much gas anymore, and other countries like the U.S. and Qatar are already building their own gas plants.

Instead, Canada is focusing on its west coast. China is now buying more Canadian oil through a pipeline there. A big gas plant in British Columbia is almost ready to start working. A French company also agreed to buy gas from another planned project in northwest Canada.

The report suggests Canada should invest in other things like better electricity systems, mining important metals, and building high-speed trains instead of the expensive east coast gas project.